Louisville has landed among the five main cities for revenue growth throughout the country, according to a study.
Smartasset, a financial technology company, discovered that the change of one year in average domestic income between 2023 and 2024 in Louisville was 9.37%, the fifth highest income growth rate in the United States
Louisville took the fifth place behind the main meters, including Tampa, Florida and three cities in California: Long Beach, San Francisco and Fresno.
Meanwhile, Louisville beat cities such as San José, California, Baltimore, Tuscon, Arizona, Chicago and Mesa, Arizona, who completed the Top 10.
The Smartasset analysis examined the 50 largest cities in the United States by population. Population and income data come from the Survey of the American community of the US Census Office. UU. By 2024 and 2023. The cities were classified according to the change of one year in the average family income. Average family income for older people and families with children under 18 years of age were also examined.
Here there is a detailed breakdown about how Louisville landed among the top five for the growth of income in the United States, according to SmartsSet:
According to Smartasset, the average family income in Louisville in 2023 was $ 61,488. In 2024, that figure increased to $ 67,251, creating an increase of 9.37% year after year.
However, Louisville’s average family income in 2024 is still well below the national figure of $ 83,730.
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The older people, people over 65, saw a decrease in the average income from 2023 to 2024.
According to Smart Asset, in 2023, Louisville Seniors brought home an average income of $ 48,846. But in 2024, that fell slightly to $ 48,232. This created a 1.26% decrease for the average income for the elderly.
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In contrast to the elderly, families, who are groups of two or more people related to birth, adoption, marriage or live together, saw a growth of 9.6% in the average income from 2023 to 2024.
In 2023, families raised $ 69,977. But in 2024, that was up to $ 76,692.
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Contact the business reporter Olivia Evans at oevans@courier-journal.com or in X, previously known as Twitter, in @oliviamevans_.
This article originally appeared in Louisville Couer Journal: Smartasset Study classifies Louisville Top 5 throughout the country for income growth
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